Micah Cohen
Screenwriter
- Joined
- Jun 8, 2000
- Messages
- 1,161
The "news" is that credit card companies are scrambling to do anything and everything to add fees and stuff to your credit card accounts before any legislation stops them. They are adding fees to cards with no fees. They are charging a fee for in-activity. They are raising minimum payments and outright canceling cards on you if they feel like it.
I don't want to discuss the politics of this. It's just a fact that these companies are now going to begin manipulating your credit in unforeseen ways. That may be their right as companies granting you credit.
I want to know: What are YOU going to do about it?
What choices do we have to cancel cards we don't want anymore (say, a card that we have which suddenly has new fees we do not want) without "affecting" our credit score from the credit rating companies? In all the reports about new legislation countering these new fees, no news story reports to me how I can do something like that. (And you know, you're never supposed to "cancel a card," because it adversely affects your credit.)
Will you cut your cards and then incur an in-activity fee which might become a collections issue even tho you destroyed the card?
If you don't have credit cards, then of course this doesn't affect you. And you probably don't have to chime in with "I haven't had a credit card since the 80s." Those of us with credit cards feel squeezed enough.
Any thoughts?
MC
I don't want to discuss the politics of this. It's just a fact that these companies are now going to begin manipulating your credit in unforeseen ways. That may be their right as companies granting you credit.
I want to know: What are YOU going to do about it?
What choices do we have to cancel cards we don't want anymore (say, a card that we have which suddenly has new fees we do not want) without "affecting" our credit score from the credit rating companies? In all the reports about new legislation countering these new fees, no news story reports to me how I can do something like that. (And you know, you're never supposed to "cancel a card," because it adversely affects your credit.)
Will you cut your cards and then incur an in-activity fee which might become a collections issue even tho you destroyed the card?
If you don't have credit cards, then of course this doesn't affect you. And you probably don't have to chime in with "I haven't had a credit card since the 80s." Those of us with credit cards feel squeezed enough.
Any thoughts?
MC